Tuesday, March 8, 2022

09 March 2022 Foreign

               WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq


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E-Mini Dow


U.S. stocks rose in volatile trading on Tuesday, with investors evaluating fast-paced developments around the crisis in Ukraine as the United States banned Russian oil and other energy imports over the invasion.

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Plan A: Remain sell as long as market trades below 32810. Targets are 32610 and 32400.

Plan B: Consider long if market trades firmly above 32400. Targets are 32810 and 33000.



E-Mini S&P 500

S&P 500 futures were higher Tuesday evening as investors continued to assess a surge in commodity prices and high inflation while the war in Ukraine continues.

S&P 500 futures climbed 0.35%.

It remains to be seen if the Federal Reserve will manage a soft economic landing, but the U.S. should be able to avoid a recession, according to Ross Mayfield, investment strategy analyst at Baird.

Treasury yields also spiked, with the benchmark 10-year note adding close to 10 basis points to 1.85%, as inflation fears led investors to shed bonds.

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Plan A: Short if market failed to support above 4166. Targets are 4157 and 4149.

Plan B: Long if market retraced but supported firm above 4166. Targets are 4172 and 4189.






E-Mini Nasdaq

Stocks declined on Tuesday following the S&P 500′s worst day since October 2020, as investors continue to assess geopolitical tensions between Russia and Ukraine and high commodity prices.

The Nasdaq Composite slid 0.3% to 12,795.55, falling deeper into bear market territory.

The blue-chip Dow tumbled almost 800 points for its fifth negative session in six, while the Nasdaq Composite, which contains many of the market’s biggest tech names, slid 3.6%, falling into bear market territory, down 20% from its record high from November.

Treasury yields also were sharply higher, with the benchmark 10-year note up close to 10 basis points to about 1.85% as investors shed bonds as inflation fears escalate. Yields move opposite price.

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Plan A: Remain short as long as market stays below 13198. Targets are 13164 and 13139.

Plan B : Consider long if market supports firmly above 13198 and rebound. Targets are 13221 and 13256.



HSI

Hong Kong stocks extended losses to close lower on Tuesday after hitting multi-year troughs in the previous session, as little progress in Ukraine talks, inflation worries, and domestic coronavirus outbreaks weighed on markets.

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Plan A: Remain short as long as market stays below 21100. Targets are 20780 and 20470.

Plan B : Consider long if market supports firmly above 20550 and rebound. Targets are 20940 and 21100.





WTI Crude

Oil prices surged on Tuesday as the United States and Britain moved to ban Russian oil imports, a decision that is expected to worsen disruptions in the global energy market as Russia is the second-largest exporter of crude.

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Plan A: Remain buy as long as oil price stays firm above 115.60. Targets are 129.70 and 134.40.

Plan B : Consider short if oil price falls back below 114. Targets are 112 and 110.



Gold

Gold on Tuesday extended its blistering rally towards an all-time high as investors made a beeline for the traditional safe haven on mounting fears about the Ukraine crisis and the impact of a possible ban on Russian oil by the United States and Britain.

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Plan A: Remain buy as long as gold price trades firmly above 2023. Targets are 2078 and 2100.

Plan B: Consider short if gold price trades below 2015.6. Targets are 2007 and 2000.

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.     

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